The Best Hiking Pants for Men of 2024

The REI Trailmade Pants ($69) are one of the best-fitting pants in this review. We really like the slender (not slim) fit and how the pants look and feel. They are extremely comfortable, and we were equally cozy hiking all day in them or lounging around the house in a pair of slippers.

One of the first things we noticed when these pants showed up in the mail was the sharp-looking accent pocket. The teal pocket zip on the darker blue pants gave the thigh a nice pop of color that looks great. The pocket is just the right size for a fat wallet, cellphone, or energy bar.

We also appreciate the internal drawcord’s simplicity as an effective way to make micro-adjustments to the waist without adding a belt.

We hiked high peaks in Colorado, along the beach in Mexico, through flower-filled fields in the Tetons, and along the coast in Alaska to discover that pants don’t have to cost a ton to function well, look good, and provide protection from the wind, light rain, mosquitoes, and sun.

Note that while these do have a DWR coating, if you live in a wet climate like the Pacific Northwest, where hiking in the rain is a regular part of most hikes, these might not be a great option. On a couple of hikes in Alaska and the Tetons where it was pouring, these pants soaked through pretty quickly, unlike a couple of others on the list, like the OR Ferrosi Pants that are more waterproof.

The Trailmades did, however, dry extremely quickly once the sun came out. So, if your main goal is to provide some sun protection along with an additional layer to protect your legs from the occasional bit of bushwhacking, then this is a solid choice.

If you hike in warmer climates and want a lightweight, simple, but well-designed pair of pants without many extra features to complicate the design, then take a look at the REI Trailmade Pants. Plus, with a price tag of only $69, you’ll be able to spend more time outside and less time working!

If you are looking for an incredibly durable pair of hiking pants that will last for a long time, then look no further than the Fjällräven Vidda Pro Ventilated Trousers ($180).

When these pants arrived in the mail, the first thing we noticed was the very heavy-duty look and feel. Along with the pants was a letter from Martin Axelhed, Fjällräven CEO. This line from the letter stood out: “They are designed to last for decades of use, to be passed on to the next generation or re-sold on the secondhand market. This way, fewer products need to be produced, less energy needs to be consumed, and few products will end up as waste.”

Although we haven’t had a chance to test these pants for decades, we suspect they’ll still be going strong many years from now with little signs of wear.

Based on the heavy-duty fabric we were initially a bit skeptical of the breathability. Every time we hiked in warmer conditions or days when the humidity was a bit up, we expected to overheat quickly but were pleasantly surprised. The side vent half-zippers and the ventilated, stretch crotch make a big difference. While we don’t think these should be your go-to hiking pants for desert backpacking trips, they do well in most other conditions and will shine in colder weather.

The Vidda Pro Ventilated Pants are packed with a lot of extra features that are practical and improve the overall quality. For hikers that live in the mountains or on the East Coast or the Pacific Northwest when late spring and early summer hiking often involve snow and mud, the strap adjustment at the leg to tighten up the fit around the top of your hiking boots and the laces keeper hook are a nice feature — particularly if you don’t feel like wearing gaiters every time you go out for a short hike. The three oversized pockets and the smaller knife pocket are also a nice addition, and even when we had a cell phone, car keys, and snacks filling the pockets, the pants still fit well.

Finally, it’s worth noting that every single time we wore these pants, we received positive comments from passersby on the trail. Whether we were deep in the backcountry or walking to the local pizza restaurant after a hike, we regularly got comments like, “Wow, those are cool-looking pants. Who makes those?” or “Those look really durable. Do you like them?” Fjällräven makes a quality-looking pair of pants, and folks notice them.

If you are an ultralight purist and have spreadsheets of the weight of every piece of gear you take on a backpacking trip, then these probably aren’t the first pair of hiking pants you’ll choose; you’ll prefer to go with an ultralight option like the Rab Incline Light Pants. But if you want a beefy pair of pants that will last for many years and have a number of thoughtful features that improve rather than detract from the overall quality, then take a look at the Vidda Pros.

Black Diamond’s roots are in technical climbing gear. They’ve taken what they’ve learned on the mountain to make some of the finest outdoor apparel available. The Alpine Light ($125) speaks to its years of experience, and the overall merits are in its restrained design.

Instead of a belt, the pants fasten with a G-hook that sits off-center and catches on ladder webbing sewn into the waist. Both Arc’teryx and Seadon use a similar G-hook belt closure, but Black Diamond’s solution is the most secure implementation of the three.

The drawcord around the ankles locks into a slot, pinching the elastic cord. Unlike other pants with drawcords, you can’t pull it with one hand, but the concept is light and the most minimal setup we tested, significantly reducing bulk around the ankles.

For stretch and durability, the material is a combination of nylon and elastane, whose qualities start to shine once you veer off the map. Beyond the trail, you need pants that move with you, deflecting rock and scrub. That’s what terrain Black Diamond feels most comfortable in, and that’s where the Alpine Light delivers.

They have a four-way stretch woven fabric that is water-resistant, lightweight, and incredibly durable for its weight. After months of testing, it looks nearly new.

The pants have five pockets (two hand and two rear drop-in pockets, with a fifth pocket on the lower right leg). The front pockets aren’t very deep, and the thigh pocket sits low against the knee. This is designed to stay clear of a climbing harness.

If you like to carry lots of items in your pant pockets — particularly a phone in that thigh pocket — this could be a dealbreaker, and you’ll want to look at the Vidda Pro Ventilated Pants instead. If the thigh pocket was better positioned, we would have awarded the Alpine Light our choice for the best hiking pant overall.

The Alpine Light is available in general sizes (S, M, L, and XL), with inseams scaling from 31.5 to 33.5 inches. The waist sizing trends small, so if you’re between sizes, we recommend sizing up.

We’ve been lucky to have the privilege of testing a wide array of hiking pants from KÜHL, and when we say it was hard to settle on a top pick — we mean it. Each pair we took for a spin impressed us on multiple fronts, but we narrowed in on the sleek and functional KÜHL Radikl Pants ($109) as our model of choice for this hiking guide.

With a classic, stylish look for trotting around town and enough grit for serious trekking endeavors, these are some of our favorite crossover, do-it-all pants that keep worming their way into our packs, duffels, and carry-ons for all manner of adventures.

Wear ’em to work or bomb down a scree slope in the backcountry — the Radikl Pants have a classy vibe but are packed with discrete, outdoor-ready features that make them power players when the mountains call. Slim stretch knit fabric panels below the knee, waist, back yoke, and gusset not only boost flexibility while bounding about but also afford adequate ventilation when you pick up the pace.

You’d never know these vents existed until pulling the Radikl on, though, as they are the same color and appear to have the same texture as the rest of the pant’s Enduro performance fabric.

This tough, abrasion-resistant material mixes up a well-balanced batch of cotton, nylon, and spandex for a supremely durable — albeit noticeably weighty — force to be reckoned with. These quickly became our go-to pants for bush-bashing or boulder-hopping, but there’s slightly less mobility than those more suited for scrambling like the Black Diamond Alpine Light.

Such thick, stalwart fabric comes at a cost, though, and these don’t boast the best next-to-skin comfort compared to other pants on this list. They are also some of the heavier pants we tested, and we don’t bring these on fast and light missions where weight is of chief importance.

For front and backcountry style, though, these pants are hard to beat. Subtle side pockets for phones or an EDC knife ride along the thighs, and a muted brass “KÜHL” logo decorates the top of a thin coin pocket. These pants look pretty darn slick paired with a nice shirt tucked into a belt. Their “Free Ryde” waist follows the natural rise of your hips, which seems to move surprisingly well with you as you vault over blowdowns or navigate rock-strewn riverbeds.

The Radikl Pants have a somewhat athletic fit through the thigh but do flair out a bit more than we like in the lower leg. This is fine when wearing these on casual outings, but they tend to flap back and forth a tad while hiking, and we would prefer a slimmer cut (note: we tested the “Klassik Fit”. You can opt for a “Tapered Fit” option if ordering off of KÜHL’s site).

In short, these are some of our favorite pants in our closet, and we find ourselves wearing them for much more than just hiking. While they aren’t as light or performance-oriented as some on this list, they bring a rugged, stylish aesthetic to your outdoor wardrobe that only KÜHL can do.

Cramming down to roughly the size of a softball, the slim-fitting, mega-stretchy Rab Incline Light Pants ($95) should snag some real estate in any pack you load up for an adventure. At 7.9 ounces and under $100, why wouldn’t you bring ’em along? But their allure doesn’t stop at weight and price. Boasting stellar mobility, phenomenal next-to-skin comfort, and a thoughtful design, these pants are ready for any number of wild escapades.

The long-length gusseted crotch affords more freedom of movement than most pants we tested, and has a unique design, extending down to just above the knee. Articulated knees contribute to these pants’ mobility, and we had little issue tackling technical terrain on long hikes or light bushwhacks. We love a slim fit in our hiking pants, but these are just a tad too slim in a few areas for our preference — namely around the thighs and hips. For folks with larger legs, we’d recommend sizing up.

We love how packable the Incline Lights are. They roll up to a minuscule size and have consequently become some of our favorite “just in case” pants to throw in on any trip we find ourselves on. This isn’t to say they don’t rise to the task as standalone hiking pants in the backcountry, however, their ultralight nature does dock some durability points. They won’t hold up to the same level of torture as beefier softshell models like the Helly Hansen Blaze listed below.

Two zippered side pockets, one zippered back pocket, and a single zippered thigh pocket round out its simple feature set — which is just about perfect for us. We appreciate having zippers on each pocket, as it means any trinket we tote around will stay secure while we bound about. We do wish that there were drawcord cuff adjustments, but Rab had to cut weight somehow.

As some of the lightest pants on this roundup, the Incline Lights will hold up to miles of wear and tear without weighing you down. They’ll disappear in your luggage as backup pants for longer trips, or serve you well as standalone workhorses on ultralight backpacking missions. Trust us — you won’t be disappointed.

We love the utility of a good pair of convertible pants, particularly when hiking in places where the weather might go from sunny and 70s to windy and 40s in a short period of time. On one of our first outings in the REI Sahara Convertible Pants ($79) pants, we headed out for a long hiking/backcountry fishing trip at a high alpine lake in the Colorado Rockies located at almost 13,000 feet.

Over the course of the day, from the hike in the morning to the hike out late in the afternoon, the temperature changed significantly, and we found ourselves changing from pants to shorts and back to pants a number of times. The convenience of this option while providing a bit of extra sun and wind protection was much appreciated.

Unfortunately, after 20 (?) years, it seems that the curse of convertible pants — dorky fit and style — still hasn’t been sorted out. Although we love the versatility of zip-off pants, they always seem to fit awkwardly in the thighs where the pant legs zip on/off. The shorts portion of the REI Sahara Convertible Pants looks great, but once the pant legs are added to the mix, the fit just looks a bit odd. We hope one of these days REI or someone else will figure out how to make a pair of convertible pants that look great as both shorts and pants.

Setting aside our ego and how we look, we did appreciate the ease of attaching and detaching the pant legs, particularly when doing it in inclement weather or when it’s windy. In the past, this often involved a lot of awkward hopping around on one leg and a good bit of frustration. REI simplified this with color-coded thigh zippers to differentiate the right leg from the left, and they also added full side zips on the legs to make them just a little easier to get on and off.

If you have limited space and want a single pair of hiking pants or shorts for a backpacking trip or overseas travel, we highly recommend the REI Sahara Convertibles.

When the mercury dips and snowflakes start to fly, don’t quit getting out there and hiking. Instead, get amped and prepared with the Outdoor Research Rialto Fleece Lined Pants ($128), an incredibly warm, weather-resistant option for colder-weather pursuits.

When we first put on these pants, we immediately felt the embrace of their cozy fleece inner. Soft-to-the-touch insulation coupled with a weather-resistant outer fabric that sheds precip and mud (and luckily for us, dog hair), make these the ultimate winter (or late fall/early spring) adventure pants.

During testing, we pushed them to the limit. The Rialto Pants quickly became our daily driver while guiding winter wildlife-watching tours in Wyoming. On frigid mornings in Grand Teton National Park, we stood around outside, sometimes for hours on end, watching wolves or elk. And even while we weren’t active, the Rialto Pants kept us toasty. Plus, the DWR finish on the outside kept us dry during snow and light freezing rain storms. On a few subzero mornings, we threw a base layer underneath for added warmth. Note: if you plan to layer under these pants, consider sizing up since the fit is a bit trim.

But we didn’t just stand around in these pants. In fact, we cruised all over the Tetons doing activities like hiking, snowshoeing, and Nordic skiing, where mobility is key to efficiency and fun. Unlike some other insulated hiking pants we’ve tested, the Rialto Pants don’t feel heavy or limit movement. They move with our bodies, allowing us to perform well and stay warm no matter what conditions or activity we throw at them. Of course, they aren’t as breathable as others on this list, but they aren’t meant to be, and we wouldn’t expect them to be since they’re designed for adventures where staying warm is clutch. An integrated belt, sleek buckle, and flattering fit not only make these comfortable but also stylish enough to move easily from the trail to the brewpub and back again.

One place for improvement is the ankle cuff. It fits tightly, making it difficult and/or impossible to pull over our boots, which we want to do to keep the elements out. Instead, the cuff bunches up around our boots, letting cold air and snow in. On a couple of snowshoe adventures where we were breaking trail in deep snow, this became problematic and led to wet socks. Adding some fabric to this area and making the cuff a bit looser would allow us to pull the cuff over our boots to keep heat in and precip out. We’d also like the see zippers added to the two hip pockets. We could barely use the shallow, open pockets for anything more important than chapstick for fear that we would lose items in the snow.

If you’re looking for insulated pants to wear every day during winter or the unforgiving shoulder seasons, whether you’re crushing it on the trail or hanging outside in the cold, the Rialto Pants from Outdoor Research will get the job done in style.,

These popular, affordable workhorses have been staples in the hiking and travel community for a while and aren’t diminishing in popularity. During testing, we found the Patagonia Quandary Pants ($89) to be solid crossover pieces for backcountry performance and front-country style alike. Don’t let the low price tag and relatively thin fabric fool you — these pants can throw down and hold up well to some serious torture on long hikes.

This model boasts some of our favorite features for hiking pants, with articulated knees, a gusseted crotch, breathable fabric, and a DWR coating with a 40+ UPF rating. For hot, big-mile days in the sun, these pants are ready for the task. We appreciate the flexibility they offer but we did feel like the fit was a bit tight around the waist and thighs. If you’ve been focusing on leg day in the gym, see if you can try these on first before whipping out your wallet, or try another more generous-fitting pair of pants like the Outdoor Research Ferrosi Pants.

Though there aren’t a lot of venting features on the Quandary Pants, the light, thin fabric felt more breathable than a lot of pants we tried, and there is a moisture-absorbing mesh liner at the waistband which helps keep sweat buildup at bay. A zippered pocket on the back and a small zippered thigh pocket help you safely stash essentials, which is adequate storage for what we used the pants for.

For hiking comfort in the mountains, or casual style around town, the Quandary Pants are a great versatile option for a variety of travel needs.

Need pants that seamlessly transport you from work to the trailhead for a quick evening hike? Then look no further. The KÜHL Renegade Recon Pants ($99) are a great choice. They look amazing, fit well, hold their shape, and don’t sag, thanks to the elastic waist. Plus, we love not having to wear a belt, especially when our adventures call for a heavy backpack or a harness.

Although the pants Renegade Recon Pants claim to have water repellency and be quick-drying, we were a bit disappointed the first time we put this to the test. We were on a short hike in the Colorado Rockies on a day when the weather looked ominous.

About a mile from the trailhead, it started lightly sprinkling and then became a steady light rain. Within 10 minutes, the pants were totally soaked through, and our legs were cold and wet. Even after a 20-minute drive with the car heater on full, our legs were still damp when we arrived home. If you live and hike in wetter climes, a faster-drying option like the REI Trailmade Pants will better meet your needs.

When choosing your inseam size, make sure to take note of the intended fit according to the Kuhl website and sizing guide. Under tapered fit, they mention that the “style is meant to hit at the ankle; the actual inseam will measure 1.5″ shorter than the inseam selected.” If you don’t want a pair of hiking pants that feel like you are rocking a high-water look, then consider ordering a longer inseam.

Once we dialed in the fit, we enjoyed wearing these for sunny day hikes in Colorado. If you’re looking for a sharp-looking pair of hiking pants that you can wear to a staff meeting with a polo or button-up and then go straight to the trailhead for an afternoon or evening hike, then take a look at the KÜHL Renegade Recon Pants ($99).

We’ve been wearing an original version of this pant for nearly 20 years, taking it rock climbing, mountaineering, bushwhacking, spring crud skiing, and cross-country running. The pocket zipper has pulled off, and the DWR has worn away, but the pant material is still — by nearly every measure — as good as new. They’re virtually bombproof.

The Arc’teryx Gamma Pants ($180) — previously known as the Gamma LT — has only improved in the years since its inception. Arc’teryx has put a cord inside the pant hem, updated the belt, and sewn in a thigh map pocket. It has seen a recent upgrade in materials, but it still brings four-way stretch with snag-proof protection and now has a more comfortable skin-facing side.

Unfortunately, the price is nearly twice that of the other pants on the list. Breathability is low, and the fabric is fairly noisy. But these are acceptable sacrifices for more vertical endeavors, particularly hiking and climbing in wet conditions.If you’d prefer to spend a bit less and get an equally stretchy but lighter, less noisy option, give the Black Diamond Alpine Light Pants a look.

With a deeply rooted cult following in the climbing world, the legendary Stretch Zion Pants II ($95) also just happen to excel on the trail. One of the authors of this guide has had a pair of Stretch Zions since his sophomore year of college and couldn’t begin to count the hundreds of miles or pitches he’s clocked in them. Aside from a small hole in the knee, they serve him well to this day.

With such a loyal following, the recently updated Zion II had big shoes to fill — and has been met with mixed reviews. Some praise the new breathable ReZion fabric, while others bemoan its thin shiny appearance and propensity for piling. The plastic button shaved some weight from the original metal one, but many have noted that it has broken on them after minimal use. We haven’t had ours for long enough to confirm or deny this, but we do miss the metal.

The new fabric is more flexible, lighter, and has a nice, soft feel to it. Perhaps most importantly, though, it is made with bluesign-approved, recycled nylon. We don’t notice an appreciable decrease in durability but haven’t been able to test them quite long enough to tell.

The left thigh zipper pocket is a handy touch, with double entry points that allow you to access contents while hiking or sitting with ease. Ventilated inseam gussets boost breathability and comfort while hiking or climbing, and a snap roll-up feature at the hem increases versatility. We found the fit to be a bit less flattering than previous iterations, however, and the lower legs flair out significantly.

Love ‘em or hate ‘em, prAna’s Stretch Zion II Pants are back with an updated, more sustainable design. While we are still gauging the durability and functionality of the newest iteration, if previous Zions are any indication of these pants’ value, they deserve a spot on any hiking pants roundup.

Landing squarely on the opposite end of the weight and durability spectrum from Rab’s ultralight pants above, the brawny Blaze Softshell Pants ($160) are for serious technical objectives, where a perfect balance of all-day comfort and bomb-proof performance is paramount. While these serve as fine hiking pants in mild conditions — chilly temps, tempestuous weather, and brutal terrain are the Blaze Pants’ bailiwick.

Burly features abound on these hardworking trousers, with a thick four-way stretch, articulated cuts, plenty of adjustability, and reinforced panels over high-use areas. Unfortunately, we’re awarded the highest scale reading on this list to pay for these luxuries so if you’re looking for a lighter option that will still put up with wear and tear, you’ll prefer the Rab Incline Light Pants. Despite their hefty weight, however, they pack down surprisingly small, and the degree of mobility they offer makes them feel much lighter than they are. These are consequently perfect picks for winter treks or light mountaineering objectives where lighter, more flimsy pants would tap out early.

Elasticated velcro adjustments at the hips and a zippered adjustment in the lower leg allow you to dial in the fit, or add insulating layers underneath. The lower leg zips tight for a snug, athletic fit if that’s your cup of tea (it is ours), or can splay open to accommodate beefy mountaineering boots or bulky layers if the need arises.

For such thick fabric, we were surprised at how well its four-way stretch and gusseted crotch moved with us, and we had little difficulty contorting our body while navigating dense blowdowns, or bounding from boulder to boulder. The abrasion-resistant fabric thwarts rips and tears better than most, giving us great confidence in thorny bushwhacks. Additionally, high-impact areas (like the pants’ instep) are reinforced with thicker materials.

Despite the high weight, the Blaze Pants only have three pockets (two side and one zippered thigh). We wish there were back pockets. And, the zippered thigh pocket is positioned on the front of the thigh — which feels a bit uncomfortable when loaded up compared to pockets on the side of the thigh.

Our slight grumbles aside, we think these are some of the better softshell hybrid hiking/mountaineering pants on the market. Helly Hansen knows what they’re doing when it comes to technical adventure gear, and that thoughtful attention to detail is obvious in these trekking pants.

Reminiscent of our top pick, Outdoor Research’s Ferrosi Pants, the sleek Patagonia Terravia Trail Pants ($129) — previously known as the Altvia — are extremely comfortable, protective trekking pants for demanding missions in the mountains. Their polyester and spandex construction makes them some of the more cozy pants to trot around in, and despite their thicker fabric, they afford a shocking amount of flexibility.

Vaulting over blowdowns, or parkouring through boulder-strewn creek beds, they move with you seamlessly and protect you from thorns and underbrush. A straight-panel gusset and articulated legs enhance their mobility, and the flexibility extends to the waistband in these pants. They consequently have a somewhat jogger-like feel. The fabric is robust, which is a pro for protection from the elements, but a con in hot, muggy weather. It doesn’t have a lot of breathability or ventilation to speak of.

We took these pants on some serious bushwhacks while scoping out new climbing crags and off-trail side quests on backpacking trips, and while they held up well, we were surprised at the number of picks and loose strands that materialized after just a handful of excursions. Given their reputation for above-average durability, we did put them through more torture than others, so we can’t bash them too much on that front. However, is durability is of utmost importance, you’ll prefer the  Fjällräven Vidda Pro Ventilated Trousers.

The Terravia Trail Pants’ five zippered pockets keep everything safe and sound while bounding about on the trail, and we love the confidence these inspire. So many zippers do add some weight, though, nudging these pants towards the heavier end of the spectrum.

The standard, straight fit of these pants hugged our legs comfortably without being constrictive, but we found the 31-inch inseam to be an odd choice. We prefer to have the options of 30 or 32 inches, as opposed to the 29 or 31-inch options that these pants offer.

The 30-inch version of Patagonia pants fits our tester perfectly, and he found the 31-inch to be just a touch too long. We do appreciate the internal gussets and zippered fit of the cuff, though, which makes it simple to slide these over various sizes of bulky boots.

Those qualms aside, we feel these relatively new pants from Patagonia offer state-of-the-art comfort with a functional, adventure-ready design. While they aren’t our first choice for toasty summer treks, we love them for colder journeys or hikes over rough, bushy terrain.

Last year, we ranked the Fjällräven Abisko Midsummer Trousers as our best hiking pants overall. It ticked all the boxes: well-placed zippered pockets, ventilation, durability where you need it, and flexibility where you want it. The pants exemplify Scandinavian design with attention to detail through and through.

This past year, Fjällräven released a zip-off version ($175) of the Abisko Midsummer Trouses. As on the pant version, the butt and legs are reinforced with Fjällräven’s G-1000 fabric. These pants are lightweight and durable, and as the name implies, are designed for hot summer days.

To preserve breathability, the pant isn’t treated with a DWR. Though Fjällräven sells a Greenland Wax you can apply it for added weather durability. On the backside of the legs, the pants are paired with a breathable, four-way mechanical stretch fabric, pairing mobility with the G-1000’s durability.

Two mesh hand pockets zip up your essentials, and a pair of well-positioned leg pockets ride up front on top of the thighs. Inside the front right pocket is a stretchy mesh sleeve just big enough for a phone.

The pockets are oversized and can swallow a lot of supplies. Overloaded, we found the contents will bounce on the legs, so pack wisely. Like all of Fjall’s trekking pants, they lack rear pockets. We prefer it this way. Loaded rear pockets can rub on a pack and be uncomfortable when sitting around camp. They are also one of the first parts of a pant to wear out.

The zip-off zippers add 2 ounces to the convertible pants over the straight trousers but give you the added ventilation of shorts for those hot summer days. If you don’t want to show that much leg, simply pull the cuffs over your calves and cinch them with the drawcord.

The Midsummers come in European sizes, and we found they run large, so you’ll want to consult the size guide when buying. If you buy them at one of Fjällräven brick-and-mortar stores, the brand will hem them for free, giving you a fully tailored fit.

While these pants are more durable than Jack Wolfskins, the larger fit and pocket bulk work against the pants, so we put them lower on the list.

They’re not the cheapest hiking pants available, but the quality and aesthetics make the Abisko Midsummers a worthwhile investment.